In the latest ranking of business-friendly countries, China now ranks no.46 out of 190 – according to the report Doing Business 2019 published by the World Bank, The Paper reported.

From 2013 to 2018, China’s ranking has risen by 50 spots by the World Bank. Over the previous two years, China had ranked in 78th place.

Additionally, China’s score increased by 8.64 points when compared with 2017 and is one of the economies with the best improvement in the business environment.

Shanghai and Beijing were reported as sample cities, in which they accounted for 55% and 45% respectively.

The World Bank considers ten different sectors to evaluate a country’s business environment – obtaining construction permits, cross-border trade, taxation, property registration, starting up businesses, access to electricity, protection of minority investors, getting loans, bankruptcy and execution of contracts.

The World Bank noted that in the past year, China implemented reforms in seven out of the ten assessment indicators.